Thursday, June 17, 2021

"Mark Cuban-Backed Cryptocurrency Crashed 100% In One Day—And These Other Buzzy Tokens Have Also Collapsed"


"I got hit like everyone else. Crazy part is I got out… [Then] Bam," Cuban tweeted late Wednesday about Iron Titanium's crash. The plunging prices exposed a flaw in the token's design that created an arbitrage opportunity, effectively allowing investors to make unlimited money by buying and selling the token, which drove prices down further.